Bharat on course to be third-largest economy by 2027: Goyal

22 Dec 2025 CW Team

Bharat is firmly on track to become the world’s third-largest economy by 2027 and a USD 30 trillion-plus economy by 2047, Union Commerce and Industry Minister Piyush Goyal said while addressing delegates at the World Hindu Economic Forum.

Outlining the Viksit Bharat growth model, Goyal said the country’s progress is anchored in civilisational values such as Vasudhaiva Kutumbakam, and strengthened through governance reforms, enterprise-led growth and innovation. He noted that the past decade has marked a decisive shift, with consistent reforms, political stability and transparent governance positioning Bharat as a global role model.

The Minister identified three pillars of growth. Public welfare initiatives across housing, sanitation, food security, healthcare, education and digital connectivity have enabled citizens, particularly youth, to participate more confidently in economic growth. Infrastructure expansion has accelerated across highways, airports, ports, railways and digital networks, with 99 per cent of Indian Railways now electrified, improving efficiency and sustainability. Innovation and enterprise reforms, including reduced compliance burden and improved ease of doing business, have supported entrepreneurship and job creation.

On global trade, Goyal said Bharat has adopted a balanced and confident approach to Free Trade Agreements, citing deals with the UAE, Australia and the EFTA bloc, alongside ongoing negotiations with developed economies. He added that measures such as marble imports from Oman would support domestic processing and boost Bharat’s marble industry, particularly in Rajasthan.

Goyal said Bharat is increasingly viewed as a trusted global partner, with its digital public infrastructure, including UPI, emerging as an international benchmark. He reiterated that unity, culture and collective responsibility would underpin the journey towards Viksit Bharat 2047.

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..